Pacific Crest Starts Ultimate Software (ULTI) at Overweight

September 20, 2016 7:17 AM EDT
Get Alerts ULTI Hot Sheet
Price: $194.63 +1.21%

Rating Summary:
    21 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Pacific Crest initiated coverage on Ultimate Software (NASDAQ: ULTI) with an Overweight rating and a price target of $245. Analyst Trevor Upton highlighted predictable growth and profitability.

"Ultimate Software is the SaaS payroll and HCM leader for the enterprise. It offers highly predictable revenue and margin expansion on the strength of its product and service, both of which derive from its unique culture. It is taking share and is on track for $1 billion in revenue in 2018. ULTI deserves a premium valuation, in our view, and we see upside to $245, or 30x 2017 EBITDA," said Upton.

For an analyst ratings summary and ratings history on Ultimate Software click here. For more ratings news on Ultimate Software click here.

Shares of Ultimate Software closed at $204.37 yesterday.

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